Total loans outstanding in federally insured credit unions increased $235 billion, or 19.2%, over the year ending in the third quarter of 2022, to $1.46 trillion, according to NCUA's latest financial performance data. Total assets rose by $132 billion, or 6.6%, to $2.15 trillion during the same period.
Also, insured shares and deposits increased $89 billion, or 5.6%, to $1.69 trillion, from one year earlier.
“Federally insured credit unions continue to perform well overall, and that’s good news,” NCUA Chairman Todd M. Harper said. “However, with ongoing inflationary pressures and rising interest rates, a credit union’s ability to manage its interest rate and liquidity risk exposures will remain a crucial factor in its performance for the remainder of the year and into 2023. Credit unions of all types and sizes must remain diligent in managing their balance sheets, financial performance, and liquidity, interest rate, and credit risk levels as we navigate the challenging economic environment ahead of us.”
The NCUA’s Quarterly Credit Union Data Summary provides an overview of the financial performance of federally insured credit unions based on information reported to the agency in the third quarter of 2022. As of September 30, 2022, there were 4,813 federally insured credit unions with 134.3 million members.
Highlights from the NCUA’s Quarterly Data Summary Report for the third quarter of 2022 include:
The NCUA makes credit union system performance data available in the Credit Union Analysis section of NCUA.gov. The analysis section includes quarterly data summaries and detailed financial information, a graphics package illustrating financial trends in federally insured credit unions, and a spreadsheet listing all federally insured credit unions as of September 30, 2022, including key metrics.